NOVEMBER 202319infrastructure which includes the purchase of the machines, building of the plant and so on. b) Inventory whether it is in the form of raw materials or in the form of finished goods, and c) Extending the working capital which means extending the credit to the customers. The first problem is building the capacity, where having the right data will help the manufac-turer to make better informed decisions. For inventory man-agement issues, Bizongo introduced a solution called Smart Inventory Auto Replenishment which is based on the actual consumption of a product and not on sales prediction. This solution helps to ensure the optimal utilization of inventory. Global MNCs are innovating at a faster rate than their Indian counterparts, and Indian SMEs are constantly playing catch-up to stay competitive. What kind of steps should SMEs in India take in smart manufacturing to make Indian factories smarter, more productive, and more efficient? There are global companies who are frontrunners in digital adoption and are coming up with smarter solutions. Business-es should produce things that the customers want and then, if you are able to create a visibility around it, that is the smart-est way of managing any manufacturing facility. Platforms which enablethe MSME ecosystem to have that information, and help them manufacture smartly is what is required in the Indian market. Also, these platforms which enable factories to manage that information should do a lot of research, and they should make that data visible. This will help the manufactur-ers utilize their working capital much more efficiently. We at Bizongo have developed a Cloud factory which helps people understand how a factory should operate depending upon the capacity and unused capacity, and on the order history to help improve their manufacturing operations. Customers wish for personalized products but do not want to pay more than they would for mass-produced items. Hence, manufacturing must be more versatile than ever before, focusing on customized mass production. How can manufacturers address these issues?I am someone who is a great fan of frameworks and in this case, I will take the help of a digital solution. Then, I will create a framework that shows my open book cost which my cus-tomers can see.This can help them better understand all the different costs that I incur during the manufacturing process. In a different approach, I will calculate the additional cost as well as the depreciation of my machineries caused by thecus-tomization. Then, using a cost modelling tool or platform, I will be able to let the customer know the updated cost. Both these methods improve the transparency between the man-ufacturer and the customer, which helps avoid unnecessary confusions and conflicts. B2C brands are dependent upon MSMEs to procure the products which are bought by the end-consumers
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